Sec. 8. (a) Contributions to an account may not exceed the amount necessary to provide for the qualified higher education expenses of the account beneficiary.

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Terms Used In Indiana Code 21-9-7-8

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
     (b) The authority shall adopt rules under IC 4-22-2 to determine the maximum account balance applicable to all accounts of account beneficiaries with the same expected year of enrollment.

As added by P.L.25-1999, SEC.13. Amended by P.L.135-2002, SEC.25; P.L.93-2024, SEC.153.

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